Bold Ventures Inc. (TSXV: BOL) (OTCQB: BVLDF) announced on November 11, 2026 that it has closed the previously disclosed sale of 42 mining claim units at its Burchell Property in Ontario to Gold X2. The transaction delivers C$500,000 in cash, 150,000 common shares of Gold X2, and a 2% net smelter return royalty on Canadian Critical Minerals mined from the claims. Following the sale, Bold's Burchell Project retains 200 claim units covering approximately 39.4 km², and investors may be watching how the company deploys the cash proceeds across its broader exploration portfolio.

Key Points

  • Bold Ventures Inc. (TSXV: BOL / OTCQB: BVLDF) closed the Burchell claim sale on November 11, 2026.
  • 42 claim units covering approximately 6.5 km² were sold to Gold X2 along the west boundary of the Burchell Property, adjoining Gold X2's Moss Project.
  • Consideration includes C$500,000 cash, 150,000 Gold X2 common shares, and a 2% NSR royalty on Canadian Critical Minerals (excluding copper); Gold X2 may repurchase half the NSR for C$1,000,000.
  • Investors may monitor how Bold allocates proceeds toward its Ontario precious, battery, and critical metals exploration projects.

Transaction Terms and Royalty Structure on the 42 Burchell Claims

The sale consideration comprises three components: C$500,000 in cash, 150,000 common shares of Gold X2, and a 2% net smelter return royalty on all Canadian Critical Minerals — excluding copper — mined from the subject claims. Gold X2 retains the right to buy back one half of that royalty, equal to a 1% NSR, for C$1,000,000 in cash. The release also notes the 42 claims carry an existing 3% net smelter return royalty, one half of which is purchasable for C$2.5 million, underscoring the layered royalty obligations attached to this land package.

Burchell Property Footprint After the Divestiture

Prior to the transaction, Bold's Burchell Property comprised 242 claim units. Following the disposition of the 42 boundary claims to Gold X2, the Burchell Project now covers approximately 39.4 km² across 200 remaining mining claim units. The divested claims sit along the west boundary of the property and are adjacent to Gold X2's Moss Project, suggesting a strategic rationale for the buyer. The technical information in the announcement was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the company's VP Exploration and a qualified person under NI 43-101.

Bold Ventures' Broader Ontario Exploration Focus

Bold Ventures describes itself as an explorer targeting precious, battery, and critical metals across Ontario, with active projects in the Thunder Bay and Wawa regions as well as assets in the Ring of Fire area of the James Bay Lowlands. The company's target commodities include copper, nickel, lead, zinc, gold, silver, platinum, palladium, and chromium. The release states management views this commodity mix as aligned with provincial and federal electrification plans, though no specific exploration milestones or financial guidance were disclosed alongside the transaction announcement.